Blockchain revolutionizing traditional lottery in Nigeria

The West African nation Nigeria is known for having the biggest economy and the most populous black Africa nation, estimated to be about 200 million Nigerian residents, mostly dominated by the youth, and also known for its long-term love affair with gambling.

However, lottery in Nigeria is still the biggest in the country with the market share of 44% according to pricewatercoopers (PWC). In 2016 a joint statement by lottery operators as quoted said lottery worth $70 billion in 2016 only, roughly an average of 7.5 million naira is place on lottery daily, while SMS charge about 150 billion naira revenue is generated according to Nigeria regulatory commission (NLRC) 2016.

Furthermore, lottery is any game open to the public or sector involving the sale of tickets or papers printed with numbers within a range of numbers, drawn in a lottery game that can yield the winner a cash or other prize of corresponding value.

Lottery tickets can be sold by lottery operator to members of the Nigeria public directly. However, now is the time to build on the momentum of traditional Nigeria lottery markets and embrace advance technology to the lottery industry.

Furthermore, Nigeria is no doubt one of the West African countries; blockchain technology is starting to take root. The lottery operators in the country is now embracing this innovative technology into the lottery segment so as to bring fairness to the lottery industry and to take the lottery segment to a greater height.

However, early this year two lottery companies in Nigeria deployed blockchain technology into their gaming platforms, namely international lottery and gaming limited, which is popularly known as Naijalottery and Ikorne Games, known as bingo9ja so as to make their customers in the lottery segment to experience such innovative technology in the gaming industry. According to CEO and founder of Ikorne Games as quoted by Eni Eniola, the move is to make it easy and stress-free for customers to play from their homes using their blockchain enabled mobile application and blockchain deployed terminals with USSD codes.

This move is to break the stigma attached to playing conventional lotteries in Nigeria.

Written by Adeleye Awakan Associate
Editor Africa’s leading B2B digital gaming magazine news portal with expertise in Marketing, Communications, PR, consultant on gaming.
Contact: [email protected]

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